What’s Ahead For Mortgage Rates This Week – January 9, 2017

2017 started with good news; fixed mortgage rates were lower, but the national unemployment rate ticked upward and labor reports showed fewer openings for public and private sector jobs. Construction spending was higher in November.

Mortgage Rates Lower; Construction Spending Higher

Freddie Mac reported lower average rates for fixed rate mortgages as the average rate for a 5/1 adjustable rate mortgage crept up. The average rate for a 30-year fixed rate mortgage dropped by 12 basis points to 4.20 percent; The average rate for a 15-year mortgage fell 11 basis points to 3.44 percent while the average rate for a 5/1 adjustable rate mortgage gained three basis points to 3.33 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

Construction spending was higher in November according to the Commerce Department and reached the highest level since April 2006. The November reading was 0.90 percent higher as compared to an expected reading of 0.60 percent and October’s original reading of 0.50 percent, which was revised to 0.60 percent. Lower mortgage rates coupled with more construction could help ease low inventories of available homes and provide relief to first-time and moderate-income home buyers who’ve been challenged by rapidly rising home prices and mortgage rates.

Fewer New Jobless Claims: Unemployment Rate Rises

The government’s Non-Farm Payrolls report for December showed lower job openings for government and private sector employers with a reading of 156,000 jobs added against the expected reading of 180,000 job openings and November’s reading of 204,000 job openings.

ADP reported similar results for its December reading on private sector jobs; 153,000 jobs were created against November’s reading of 215,000 jobs created. Analysts said that hiring is increasing, but not as fast as in prior months. On average, 174,000 private-sector jobs were created monthly in 2016 as compared to a monthly average of 209,000 private sector jobs created in 2015.

Weekly jobless claims were lower last week with 235,000 new claims filed; 260,000 new claims were expected based on 263,000 new claims filed the previous week.

December’s national unemployment rate rose to 4.70 percent from 4.60 percent in November. Analysts said that the uptick was likely fueled by employers deleting former workers from their payrolls at year-end.

Whats Ahead

This week’s scheduled economic reports include readings on job openings, consumer sentiment and weekly readings on new jobless claims and mortgage rates.

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11041 W Hadley Street Avondale, AZ 85323

$452,995
4 Beds
3 Baths
2,070 SqFt
Status Active
MLS # 6657717
Property Type Single Family Residence
Price Type --
Explore this thoughtfully designed Slate floorplan, ready for quick move-in on a homesite boasting front yard landscaping and driveway/walkway pavers. Included features: an inviting covered entry; an eat in dining room, a well-appointed kitchen offering 42'' white shaker cabinets, quartz countertops, stainless-steel appliances, a center island with pendant light pre-wire, and a spacious walk-in pantry; an expansive great room; a lavish primary suite showcasing a generous walk-in closet and a private bath separate tub and shower, and dual sinks with cultured marble countertops; a convenient laundry; a guest bedroom featuring en-suite bathroom, a covered patio, and a 2-car garage with 8' door. Find other desirable finishes, like 7x22 tile in the main living areas (carpet in bedrooms only) two tone paint, a convenient soft water loop in the garage, tankless hot water heater, and a gas stub at the patio. This home also offers additional windows in the great room and owner's bedroom, as well as ceiling fan prewire in all bedrooms, great room, and patio.

29513 N 151st Lane Surprise, AZ 85387

$452,990
3 Beds
2 Baths
1,658 SqFt
Status Active
MLS # 6640370
Property Type Single Family Residence
Price Type --
$9,500 SELLER CONCESSION IS APPROVED (SEE REMARKS), THE COMPLETION OF THIS HOME IS EXPECTED IN SEPT 2024, THE STANDARD FEATURES OPTIONS, BRAND NEW 1,658 SQ FT, 3 BED / 2 BATH SINGLE LEVEL HOME ON AN ACRE+ LOT W NO HOA'S, BRING YOUR HORSES, TOYS & RVS!! THIS HOME HAS GREAT CURB APPEAL WITH A TILE ROOF, INSIDE YOU WILL FIND THE MOST CHARMING KITCHEN-GREAT ROOM FEATURING WALLS OF GLASS, MODERN WHITE SHAKER CABINETS, QUARTZ COUNTERTOPS, A HUGE KITCHEN ISLAND & A LARGE PANTRY. 18X18 INCH CERAMIC TILE COVERS THE FLOORS EXCEPT FOR THE CARPET IN THE BEDROOMS. VAULTED CEILINGS, THE MASTER FEATURES AN OVERSIZED CLOSET ALONG WITH A QUARTZ TOPPED VANITY W DOUBLE SINKS & A CUSTOM TILE MASTER SHOWER. PHOTOS ARE FROM PRIOR HOMES & REFLECT UPGRADES, STILL TIME FOR THE BUYER TO INFLUENCE THE COLORS THE BUILDER HAS APPLIED FOR THE BUILDING PERMITS. CONSTRUCTION WILL START SHORTLY AFTER THE BUILDER RECEIVED THE PERMITS FROM MARICOPA COUNTY.

3375 S 177th Drive Goodyear, AZ 85338

$452,990
3 Beds
2 Baths
1,971 SqFt
Status Active
MLS # 6659218
Property Type Single Family Residence
Price Type --
Welcome Home! This cozy single story home features 3 bedrooms plus flex/DR, 2 bath and 2 car garage! Open kitchen, dining and great room area. Gather around the center island and entertain guests! Extended Covered Patio with views of the Estrella mountains! Interior has 9ft ceilings, 8ft interior doors, stainless steel appliances, granite countertops, dark shaker style cabinets and tile floor throughout except in bedrooms. Conveniently located near shopping and dining options. You won't want to miss out on this one!

3399 S 177th Drive Goodyear, AZ 85338

$452,990
4 Beds
3 Baths
2,079 SqFt
Status Active
MLS # 6660642
Property Type Single Family Residence
Price Type --
QUICK MOVE IN- Check out this amazing 4 bedroom, 3 bath home with a 2 car garage! Double gate to backyard! Open Kitchen Dining and Great room area, that's inviting and comfortable. Includes 9ft ceilings, stainless steel appliances, granite countertops, tile floor throughout, carpeted bedrooms. Oversized, walk in shower at primary bedroom that has floor to ceiling tile is the perfect finishing touch to this perfect plan! Don't miss your chance to make this incredible home yours today! Conveniently located near shopping and dining options.

603 W Brookline Loop Williams, AZ 86046

$452,750
2 Beds
2 Baths
1,405 SqFt
Status Active
MLS # 6672559
Property Type Single Family Residence
Price Type --
Welcome to your slice of paradise in Williams! Nestled just 30 minutes from Flagstaff, this charming home offers the perfect blend of tranquility and adventure. Minutes from Cataract Lake and surrounded by endless walking trails in the National Forest, outdoor enthusiasts will be in paradise. Inside, soak up the natural light dancing through vaulted ceilings, creating a warm and inviting atmosphere. With ample storage throughout, organizing is a breeze. The master suite boasts a bonus room, ideal for your personal sanctuary: home office, gym, or art studio. Enjoy a long soak in a relaxing bubble bath in the clawfoot tub. Whip up culinary delights in the spacious kitchen, complete with plenty of room for all your culinary creations. And all kitchen appliances stay with this amazing home

39318 N Kaden Lane San Tan Valley, AZ 85140

$452,740
2 Beds
2 Baths
1,478 SqFt
Status Active
MLS # 6662932
Property Type Single Family Residence
Price Type --
Up to 3% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS6662932. June Completion! Explore the Coconino floor plan in a vibrant 55+ community, Ovation at Meridian! This inviting single-story layout spans 1,478 sq. ft. and offers 2 beds, 2 baths, and a 2-car garage. With an Adventure Series design, the home welcomes you into a foyer leading to a spacious gathering room and kitchen. Enjoy privacy with split bedrooms, making this space truly inviting. Structural options include: square corners, 5'' baseboards, paver front porch, upgraded 16 seer A/C unit, garage service door, 12' sliding glass door at great room, and soft water loop.

21341 W Roanoke Avenue Buckeye, AZ 85396

$452,617
3 Beds
2 Baths
1,456 SqFt
Status Active
MLS # 6660457
Property Type Single Family Residence
Price Type --
TO BE BUILT APPX 6-8 MO. N/S Exposure, NO Neighbors Behind! 3 beds, 2 baths, Pavered Driveway, 4' Extended Garage makes garage approximately 24' deep, 10' wide side yard Plus a 7' double gate, expansive covered patio and 12' slider awaits for seamless indoor/outdoor living. Oversized Walk In Super Shower, Generous windows, storage & homesite, perfect for a pool, this property boasts a location offers easy access to outdoor adventures while remaining conveniently close to essential amenities and shopping (Costco just 5 minutes away) Price excludes finishes/electrical. Choose what you want at design center!

3718 E Peralta Canyon Lane San Tan Valley, AZ 85140

$452,515
4 Beds
2.5 Baths
1,960 SqFt
Status Active
MLS # 6674648
Property Type Single Family Residence
Price Type --
Up to 3% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS#6674648 October Completion. Introducing The Harlow at Combs Ranch-Discovery: a meticulously designed single-story home featuring 4 bedrooms, a well-equipped kitchen, and a spacious owner's suite. Relax in the versatile large study and unwind in the gathering room with picturesque outdoor views. Community amenities including a pool, trail, playground, and BBQ area elevate your lifestyle. Enjoy the convenience of nearby shopping, recreation, and schools, catering to all your needs. Structural options include: extended outdoor living, soft water loop and bbq gas stub

25140 N 173rd Avenue Surprise, AZ 85387

$452,490
2 Beds
2 Baths
1,667 SqFt
Status Active
MLS # 6663647
Property Type Single Family Residence
Price Type --
Below Market Financing Available!!!!!!!!! This single-story home has a convenient layout that features everything you need to live a comfortable lifestyle. There is a bedroom in the front of the home with a full bathroom and a versatile den beside it that can be used as a home office or living space. Down the hall is the main living area, with a back patio, as well as the owner's suite.  Photos are of a model home, not the actual home.

17047 W Butler Avenue Waddell, AZ 85355

$452,243
4 Beds
2 Baths
1,897 SqFt
Status Active
MLS # 6660133
Property Type Single Family Residence
Price Type --
Let the Sabino floor plan welcome you home with ample room for the whole family. With four bedrooms, two bathrooms with a expansive primary bedroom, you're primed to live in domestic bliss. Kitchen features Benton White cabinets with 42″ uppers, Frost quartz counter-tops and Marazzi Artezen backsplash! Tile throughout the home in a Vicinity Natural color! Our High Performance Homes come standard with home automation technology, a Remo Halo Air Purification system designed with you in mind to keep you more comfortable in your new home. This home is conveniently located close to the 303 and northern parkway!

4495 N 203rd Avenue Buckeye, AZ 85396

$452,000
2 Beds
2 Baths
1,328 SqFt
Status Active
MLS # 6661429
Property Type Single Family Residence
Price Type --
''Ready for Immediate Move-In! Experience the allure of our captivating Sunrise floor plan nestled in Victory at Verrado, Buckeye's esteemed 55+ community. This residence features 3 bedrooms, 2 bathrooms, and a spacious open-concept kitchen/living/dining area, ideal for hosting guests. The gourmet kitchen showcases elegant design elements with carefully chosen professional touches, such as wood-look plank tile and stainless steel appliances. Complete with an oversized 1-car garage accommodating both a car and a golf cart, this home epitomizes convenient 'Lock and Leave' living!''

Yuma Prooving Guard AZ 85365

$452,000
2 Beds
2 Baths
1,850 SqFt
Status Active
MLS # 6660415
Property Type Manufactured Home
Price Type --
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